(A)
As used in this section and section
107.03 of the Revised Code, "tax
expenditure" means any tax provision in the Revised Code that exempts, either
in whole or in part, certain persons, income, goods, services, or property from
the effect of taxes established in the Revised Code, including, but not limited
to, tax deductions, exemptions, deferrals, exclusions, allowances, credits,
reimbursements, and preferential tax rates.

(B)
The department of taxation shall prepare
and submit to the governor not later than the first day of November in each
even-numbered year a report describing the effect of tax expenditures on the
general revenue fund. The report shall contain a description of each tax
expenditure under existing laws and, in comparative form, a detailed estimate
of the approximate amount of revenue not available to the state general revenue
fund in each fiscal year of the current and ensuing fiscal bienniums as a
result of the operation of each tax expenditure. The report shall be prepared
in such a manner as to facilitate the inclusion of the information provided by
the report in the governor's budget.